Bank Failure
City National Bank
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Closed August 16, 1990 · Houston, TX · FDIC Cert #26609.
- Closing date
- August 16, 1990
- Headquarters
- Houston, TX
- FDIC Certificate
- 26609
- Total assets at closing
- $35.6M
- Total deposits at closing
- $39.3M
- Estimated loss to the insurance fund
- $9.0M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Charter National Bank-Colon
Context
On August 16, 1990, regulators closed City National Bank, headquartered in Houston, TX. At closing, the institution held approximately $35.6M in assets and $39.3M in deposits. The FDIC record names Charter National Bank-Colon as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $9.0M.
By assets at closing this is the 1897th largest of the 3,526 bank failures in the FDIC record, and the 254th of 381 in 1990. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did City National Bank fail?
City National Bank was closed by regulators on August 16, 1990.
Who acquired City National Bank?
The FDIC record names Charter National Bank-Colon as the acquiring institution in the resolution of City National Bank.
How big was City National Bank when it failed?
City National Bank had approximately $35.6M in total assets and $39.3M in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
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